835 · TIQYLE. 86.—-——JNT ies;. Gross estate; pvaiec ef.-—-·’1‘he value ot tue grpse umm ef the decedent shall be determinm by including the valuejat the time oibhisedwtb of all property, real or persoqal, tangible er intangible, wherever situated-- ‘ · ° j _— · (a) To the extent otfthe interest therein ot. the decedent at the time ot his death which after his death is subject to the pavmeiat of the charges against his estate- and the expenses of ite ad1i1i¤istration_ and is subject to distribution as part. of his estilté; ·. I _ * _ " ' (b), To the extent ot any interest therein ot the surviying spouse, existing at the time_ot“the decedenvs death as dower, `eurtesy, or by virtue ot a statute creating ap sestate in lieu of llewefor eurtesyi .· ’ · x . — (cc) To the extent o£_ any interest therein of; which the de<·edent·has at anytime made a transfer, or withrespect to tvbich he has at any time created a trust, in contemplation ot er intended to take effect' in possesaiou ‘oi·_ ‘enjoyment_ af, or “ after his death, except in case of a bona i1de—S¤1e_lfor a fair maeideration in moizey or moneys `worth. °A¤y tmnstersot a material part ot his property in the nature of a ilnal disposiueli or distribution Q thereof, made by the decedent withixi `two years prior te his death without such a consideration, shall, · unless shown to the contrary, be deemed to have been made. in `eontemplatioao of death within the meaning of Part _I of this °ehapter;° j. — I E. N , · (d) To the extent. of any interest therein of which. the decedeutfhas at axiy time made a tianeter, or- with respect__to which he has at any time createdra trust, where the enjoyment thereof was aubject at the data, of his dmth to _ any change th1:eugh_ the exercise bt a power, either by the decedent alone er in eemjmzctiohwithauy perso¤,_to alter, amend; or revoke, or where the decedent relinquished ally such power in contemplatioa of his dmth, exeept in easel of ·a bona Hdelsale for a fair eeusideratieu in money or mo:1ey’s worth; " · r (e) To- the extent, of the interét `tberceln `held as joint tenants byltm ’ee¤eee¤: and any other QGTSODQ or as tenants by the entirety by decedent and mouse, or deposited, with may pereenhcarrying oa the bahking .busiaees,`, in_ their joint names and payable to either or jthe survivor, exceptqaguch part theme; as maybe showa to have originally belonged to such other permu and never to have been received or acquired by the latter .from‘-the decedent for lm than ap {air consideration ie money er mo;ley’a worth: Pivvided, That where- such prop erty or any part thereoi, or part of the mnslderatzien with whim each property was acquired, is shown _ to have ai EAB! time by such other person from- the decedent Ioi less than a faireenaideratien in $o¤ey or moneys worth, there Zhali be only meh wrt ot the value ot such property as ts peepertieeate to the eoadderatlou mrnimed by auch othex l1£1ZS£B2iPfQ9‘¢64 i¤s·tke·,_ where any property `haa ‘ been _ aeqalrqed by gift, devix, or inheritance, as a tenancy by eetirety by the dec%t and mmm, then to the extent et eae·ha.lt ot the value thereof, elf, where so acquired by the
etha person as joint teeaata their inteamn aremt otherwise M er aged bylaw, then to the
extwt oi the value et a traetieaal wrt te be determined by dividing the value of the pmperty by the number of joint tenuate; e . a f · - .· aff) Te the extmt of any xaefagomder a general pewm: et awiameat by the deeemleat .( 1) by will, on (2} bl in ef, er to tue eueet in we ¤ er~ >=· ywt at er ntterrhis Math, exeept la mee efa been for a"‘falr e e e e in mheylez dme¤ey’awer&;•¤d ,o . _ ’ [(5) Te theutwt ot the a t by the as i new taken om-by umnohh erm life`; and to the extent at the exowut ev? $*0.900 of the
WRNAL zwvmvzm ’§ 1095 amount reeeivable by allother benedclaries as insurance under pqlicies taken out by the decedent upon his own lite. $ . ·. (hl Subdivisivnk (b). (c), (ri'). te), (I), and (sl of mia section shall apply to the transfers, trusts, estateé, interests, e rights, powers, and relinquishment of powers, .as severally ” l -enu1nérated and described therein, whether made, created, aris-
- lng, existing, €XB1'CiS€(],_.01' relinquished before or after 4.01
l pbstmeridizm June 2, 1924. {June 2, 1924, _4.01 p. m., c.· 234, §302,43Stat,304.) ·· ° · » l ,1095. Net ~ estate; how determined.—Fo1j·the purpose of the _ jtax'the.‘vhlué of the net estate shall be defermined-——· . i _' ·(a) Residents; deductions; exe¤btien.——-In the case et a resident, by deducting from the value of the gross estate¢- ‘ , (_1f) Such amounts for funeral expenses, administration ex- , penses, claims against the estate, unpaid mertgagw upon, or g any indebtedness in respect to, 'property (except, in the cause . df a resident decedent, where such property le not situated in { the United States), to the extent that such claims, mortgagee, _ _0re indebtedness were incurred or contracted bene Bde and for _ al fair eonsideration in money for m0ney’s fiverth, l@es“ in- , curred during the · settlement of 'the estate arising from mea, storms, shipwreck, or- other casualty; or from theft, when smh Q leases are not compensated for by insurance er otherwise, and , such Mamonnts reasonably requlred and actually expended for the support during the settlement of the mtate et tame de— ,‘ pendent upon the decedent, as are allowed by laws of the V jnrisdicticn,. whether within ez withent the Unitedi States, _ nnder which the estate lsébeing administered, but net includ-
lng any income taxes upon income remived. after the death ef
L the decedent, or any estate, succession, legey, e1·_ inheritance L¢¤¤¤¤¤:» .` ‘ . (2) An andunt equal to the value et my property (A)
formlhg an part, of the gram mtate situated in the United
States 01 · any person who died within Eve yam prior te tm _ death dt the decedent, 01’_(B),H&il8f€1‘l‘€d tétthe E} L gift within izlve years prior to his death, each property can be identlxied as having been received- by the decedent { from auch doudi by gltt or `frem. such prior dewdent by gift, [ bequeat, devise, or inheritance, er- which mn be ldwtfiled as ' having been acquired in exchange fer property `se received. l Tllla deduction shall be allowed only where · a gift tax er an p wtate tux under this’chaptei· DI any prier·Act nt was [ paid by er an behalf of the donor or the wmte. at auch prior de- 7 cedent as the use may beyand enlyin the amoeeterpthe { value placed by the Commissioner of ·· Internal tReveime an
- ‘ ptoperty in determining me .+slue·_ei' tm ·gift er the
- $·0@ “ mtate ot eueh prior decedent, and `enly to the extent
’ that thevalue et aneln pmperw ianineludedjn the decedeefe rl gresaeetste and net deductedunder mmgraphgll eg- (3) ef ’wl¤m¤elv1Sm»;‘. · ' __ (3) The amount of all bequesm, legacies, devises, » on hm- F .;£era, exicept-`bena. Bde ales for a fair eemlderatien in money E Off ‘m6nw{s berth, me eentemnladen of er intended to tlake ’- edeet in lar. ujamnt at er after the deeedenfa ' death, to er for the use el the Unltw States, any State,·'1‘e1·- ’ rltory, any pelltlml aubdivlelen thereof, or the District et " Columbia, ter exelndvely pqblle parpem er te or i'e1·.the em C at any eerpcmtlen erganlmd ‘ and opemted exclusively fer . meligleus, <·harltal>le,_ aclentillc, literary, or edneatlengll pml pom, the eme¤rag t of art and the preventlen F. at cruelty to_ children or animals, no part .01* the net earnings 5 at whleh jnnm tel the benedt et any priyate ateeklmlder or r lmamaw, el-we a tiusteeer mmeee, el- a rmrmlal merely, F emu, or neeéelatien eperatlngpnder the ledge `syetem,_ but mi? if qeb contributions er are to `be wed by sueh v_ tr% em or by. fraternal society, ldfdéf, or l association, exelnstvely ter reMglqne, eharltable: eclentitlc, !· literary, `er edaeationnl purposes, or fo1·‘t1ie_ prevention of
